Vingroup targets 54 pct revenue growth

By Minh Son   May 15, 2021 | 01:23 am PT
Vingroup targets 54 pct revenue growth
A shopping mall operated by Vincom Retail in Dong Da District, Hanoi. Photo courtesy of Vincom Retail.
Vietnam’s largest private conglomerate, Vingroup, has set a revenue target of VND170 trillion ($7.3 billion) for 2021, up 54 percent year-on-year.

It targets post-tax profit of VND4.5 trillion in 2021, approximately the same as last year.

It plans to boost its business activities in all its core sectors of technology, industry and services this year.

Subsidiary automaker VinFast plans to release five new electric motorbike models and three smart electric car models VF e34, VF35 and VF36 this year.

VinSmart, the technology unit, will focus on developing Internet-of-things products, infotainment features for VinFast cars, along with smart city, smart home and smart services. The plan is in accordance with its latest announcement on stopping manufacturing smartphones and televisions to focus on producing equipment for VinFast cars.

The real estate subsidiary Vinhomes will develop and hand over mega-city projects and implement multichannel online and offline sales.

The mall operator Vincom Retail plans to release nearly 100,000 square meters of floor area for retailing, lifting the total floor area it operates to 1.8 million square meter in 2021.

The hospitality and entertainment arm Vinpearl will focus on the domestic market, besides implementing international marketing and media to prepare for foreign visitors when international flights resume.

Vingroup reported VND110 trillion in revenue last year, down 15 percent year-on-year.

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